PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
V3AM.L vs. ZEM.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

V3AM.L vs. ZEM.TO

Last updated Jun 5, 2026

V3AM.L (Vanguard ESG Global All Cap UCITS ETF (USD) Distributing) and ZEM.TO (BMO MSCI Emerging Markets Index ETF) are both exchange-traded funds - V3AM.L is a Global Equities fund tracking the MSCI ACWI NR USD, while ZEM.TO is a Emerging Markets Equities fund tracking the MSCI Emerging Markets Index. Both are passively managed. Over the past 5 years, V3AM.L returned 11.49%/yr vs 7.81%/yr for ZEM.TO. At a 0.47 correlation, their price movements are largely independent. V3AM.L charges 0.24%/yr vs 0.27%/yr for ZEM.TO.

Performance

V3AM.L vs. ZEM.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Vanguard ESG Global All Cap UCITS ETF (USD) Distributing (V3AM.L) and BMO MSCI Emerging Markets Index ETF (ZEM.TO). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Different Trading Currencies

V3AM.L is traded in GBP, while ZEM.TO is traded in CAD. To make them comparable, the ZEM.TO values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, V3AM.L achieves a 12.15% return, which is significantly lower than ZEM.TO's 26.28% return.

V3AM.L

1D
0.02%
1M
6.38%
YTD
12.15%
6M
12.78%
1Y
30.64%
3Y*
17.82%
5Y*
11.49%
10Y*
—

ZEM.TO

1D
-1.47%
1M
6.28%
YTD
26.28%
6M
27.35%
1Y
53.60%
3Y*
20.19%
5Y*
7.81%
10Y*
10.87%
*Multi-year figures are annualized to reflect compound growth (CAGR)

V3AM.L vs. ZEM.TO - Yearly Performance Comparison

2026 (YTD)20252024202320222021
V3AM.L
Vanguard ESG Global All Cap UCITS ETF (USD) Distributing		12.15%12.40%19.59%18.06%-13.39%17.05%
ZEM.TO
BMO MSCI Emerging Markets Index ETF		26.28%24.24%7.96%4.34%-12.10%-1.98%

Correlation

The correlation between V3AM.L and ZEM.TO is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.48

Correlation (3Y)
Calculated over the trailing 3-year period

0.45

Correlation (5Y)
Calculated over the trailing 5-year period

0.47

Correlation (All Time)
Calculated using the full available price history since Mar 26, 2021

0.47

V3AM.L vs. ZEM.TO - Sectors Allocation Comparison

Sectors
V3AM.L
ZEM.TO

Technology

33.9%
37.0%

Financial Services

17.7%
20.1%

Consumer Cyclical

11.2%
9.7%

Communication Services

10.0%
6.8%

Healthcare

9.7%
2.7%

Industrials

6.4%
7.6%

Consumer Defensive

4.4%
3.0%

Basic Materials

3.4%
6.4%

Real Estate

3.0%
0.8%

Utilities

0.4%
2.0%

Energy

0.0%
4.0%

Technology

V3AM.L
33.9%
ZEM.TO
37.0%

Financial Services

V3AM.L
17.7%
ZEM.TO
20.1%

Consumer Cyclical

V3AM.L
11.2%
ZEM.TO
9.7%

Communication Services

V3AM.L
10.0%
ZEM.TO
6.8%

Healthcare

V3AM.L
9.7%
ZEM.TO
2.7%

Industrials

V3AM.L
6.4%
ZEM.TO
7.6%

Consumer Defensive

V3AM.L
4.4%
ZEM.TO
3.0%

Basic Materials

V3AM.L
3.4%
ZEM.TO
6.4%

Real Estate

V3AM.L
3.0%
ZEM.TO
0.8%

Utilities

V3AM.L
0.4%
ZEM.TO
2.0%

Energy

V3AM.L
0.0%
ZEM.TO
4.0%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Vanguard ESG Global All Cap UCITS ETF (USD) Distributing

BMO MSCI Emerging Markets Index ETF

Often compared with V3AM.L:
V3AM.L vs. V3AB.LV3AM.L vs. VWRL.LV3AM.L vs. VWRA.LV3AM.L vs. VGWL.DEV3AM.L vs. XESW.LV3AM.L vs. XZSP.DEV3AM.L vs. SUUS.L
Often compared with ZEM.TO:
ZEM.TO vs. XEC.TOZEM.TO vs. VEE.TOZEM.TO vs. XEF.TOZEM.TO vs. VIU.TOZEM.TO vs. XSEM.TOZEM.TO vs. xec.TOZEM.TO vs. ZCN.TO

Return for Risk

V3AM.L vs. ZEM.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
V3AM.L
V3AM.L Risk / Return Rank: 8181
Overall Rank
V3AM.L Sharpe Ratio Rank: 8383
Sharpe Ratio Rank
V3AM.L Sortino Ratio Rank: 8484
Sortino Ratio Rank
V3AM.L Omega Ratio Rank: 8585
Omega Ratio Rank
V3AM.L Calmar Ratio Rank: 7575
Calmar Ratio Rank
V3AM.L Martin Ratio Rank: 7979
Martin Ratio Rank
ZEM.TO
ZEM.TO Risk / Return Rank: 8383
Overall Rank
ZEM.TO Sharpe Ratio Rank: 8181
Sharpe Ratio Rank
ZEM.TO Sortino Ratio Rank: 7979
Sortino Ratio Rank
ZEM.TO Omega Ratio Rank: 8585
Omega Ratio Rank
ZEM.TO Calmar Ratio Rank: 8686
Calmar Ratio Rank
ZEM.TO Martin Ratio Rank: 8484
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

V3AM.L vs. ZEM.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard ESG Global All Cap UCITS ETF (USD) Distributing (V3AM.L) and BMO MSCI Emerging Markets Index ETF (ZEM.TO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

V3AM.LZEM.TODifference
Sharpe ratioReturn per unit of total volatility
2.67
2.71

-0.03

Sortino ratioReturn per unit of downside risk
3.73
3.51

+0.22

Omega ratioGain probability vs. loss probability

1.50

1.52

-0.02

Calmar ratioReturn relative to maximum drawdown

3.73

5.02

-1.29

Martin ratioReturn relative to average drawdown

15.11

18.54

-3.43

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

V3AM.L vs. ZEM.TO - Sharpe Ratio Comparison

The current V3AM.L Sharpe Ratio is 2.67, which is comparable to the ZEM.TO Sharpe Ratio of 2.71. The chart below compares the historical Sharpe Ratios of V3AM.L and ZEM.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Sharpe Ratios by Period

V3AM.LZEM.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.67

2.71

-0.03

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.84

0.45

+0.39

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.55

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.89

0.35

+0.54

Drawdowns

V3AM.L vs. ZEM.TO - Drawdown Comparison

The maximum V3AM.L drawdown since its inception was -19.25%, smaller than the maximum ZEM.TO drawdown of -31.17%. Use the drawdown chart below to compare losses from any high point for V3AM.L and ZEM.TO.

Loading charts...

Drawdown Indicators

V3AM.LZEM.TODifference

Max Drawdown

Largest peak-to-trough decline

-19.25%

-31.17%

+11.92%

Max Drawdown (1Y)

Largest decline over 1 year

-8.18%

-10.72%

+2.54%

Max Drawdown (3Y)

Largest decline over 3 years

-19.25%

-15.18%

-4.07%

Max Drawdown (5Y)

Largest decline over 5 years

-19.25%

-24.12%

+4.87%

Max Drawdown (10Y)

Largest decline over 10 years

—

-26.75%

—

Current Drawdown

Current decline from peak

-0.57%

-2.04%

+1.47%

Average Drawdown

Average peak-to-trough decline

-4.85%

-10.60%

+5.75%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.02%

2.90%

-0.88%

Volatility

V3AM.L vs. ZEM.TO - Volatility Comparison

The current volatility for Vanguard ESG Global All Cap UCITS ETF (USD) Distributing (V3AM.L) is 3.51%, while BMO MSCI Emerging Markets Index ETF (ZEM.TO) has a volatility of 8.04%. This indicates that V3AM.L experiences smaller price fluctuations and is considered to be less risky than ZEM.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

V3AM.LZEM.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.51%

8.04%

-4.53%

Volatility (6M)

Calculated over the trailing 6-month period

8.67%

17.90%

-9.23%

Volatility (1Y)

Calculated over the trailing 1-year period

11.41%

19.91%

-8.50%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.65%

17.34%

-3.69%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

13.59%

20.01%

-6.42%

V3AM.L vs. ZEM.TO - Expense Ratio Comparison

V3AM.L has a 0.24% expense ratio, which is lower than ZEM.TO's 0.27% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

V3AM.L vs. ZEM.TO - Dividend Comparison

V3AM.L's dividend yield for the trailing twelve months is around 1.09%, less than ZEM.TO's 1.75% yield.

PositionTTM20252024202320222021202020192018201720162015
V3AM.L
Vanguard ESG Global All Cap UCITS ETF (USD) Distributing		1.09%1.23%1.28%1.45%1.70%0.92%0.00%0.00%0.00%0.00%0.00%0.00%
ZEM.TO
BMO MSCI Emerging Markets Index ETF		1.75%2.23%2.56%2.87%2.89%2.50%1.69%2.42%2.20%1.76%4.19%2.45%

Frequently Asked Questions

V3AM.L and ZEM.TO have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, V3AM.L is cheaper at 0.24% per year. The better choice depends on whether you care most about return, fees, risk, or income.

V3AM.L is cheaper with a 0.24% expense ratio, compared with 0.27% for ZEM.TO.

V3AM.L is categorized as Global Equities, while ZEM.TO is Emerging Markets Equities. V3AM.L tracks MSCI ACWI NR USD, while ZEM.TO tracks MSCI Emerging Markets Index. They also come from different issuers: Vanguard and BMO. Their fees differ too: 0.24% for V3AM.L and 0.27% for ZEM.TO.

Portfolio Optimizer

Find the right allocation for V3AM.L and ZEM.TO

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer